Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1350 2nd St Franklin, OH 45005-1850

    • Turn key restaurants
    • 3,500 SF
    • 1.19 lot acres
    OFF-MARKET
    Last Sale
    May 23, 2022
    $605,000
    Value Estimations
    $670,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-1167862
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • El Vaquero Mexican Restaurant / Caterer / Bar

    Property Details for 1350 2nd St

    Year built
    1973
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.19 lot acres
    Property size
    3,500 SF
    Property type
    Turn key restaurants
    APN
    04-26-476-013-0
    APU
    4264760130

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $610,000
      ML approach
      $600,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $847,000
      Market price range: $455k - $1.60M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Franklin
    County
    Warren
    State
    Ohio
    Longitude
    -84.2759
    Latitude
    39.563
    CBSA code
    17140
    CBSA name
    CINCINNATI-MIDDLETOWN, OH-KY-IN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $11,261
    $114,107
    $67,760
    $181,867
    -
    $326,020
    $193,600
    $519,620

    Comparable in this City

    • Value Estimation
      $360,000
      2,188 SF

      711 2nd St

      RESTAURANT • 2,188 SF
      711 2nd St, Franklin, OH 45005-1710
      View Details
    • Value Estimation
      $245,000
      1,670 SF

      6840 State Rte 123

      RESTAURANT • 1,670 SF
      6840 State Rte 123, Franklin, OH 45005-4558
      View Details
    • Value Estimation
      $90,000
      1,163 SF

      544 Main St

      RESTAURANT • 1,163 SF
      544 Main St, Franklin, OH 45005-2414
      View Details
    • Value Estimation
      $300,000
      2,469 SF

      980 2nd St

      RESTAURANT • 2,469 SF
      980 2nd St, Franklin, OH 45005-1756
      View Details
    • Value Estimation
      $650,000
      6,552 SF

      6780 Roosevelt Ave

      RESTAURANT • 6,552 SF
      6780 Roosevelt Ave, Middletown, OH 45005-5724
      View Details
    • Value Estimation
      $1,145,000
      1,861 SF

      490 Central Ave

      RESTAURANT • 1,861 SF
      490 Central Ave, Franklin, OH 45005-3372
      View Details

    Similar Nearby for Sale

    • $199,900

      Downtown Retail Space Opportunity

      Retail space in Franklin's revitalization area, ready for business.
      14 E 4Th St, Franklin, OH 45005
      View Details
    • $200,000
      1,820 SF

      Dixie Highway Commercial Opportunity

      Rehabbed shell on 0.57 acres ready for custom finish.
      9620 Dixie Hwy, Franklin, OH 45005
      View Details
    • $1,025,000
      0.75 Acres

      Carlisle Commercial Land Opportunity

      .75-acre prime redevelopment site in Ohio.
      750 Fairview Dr, Carlisle, OH 45005
      View Details
    • Contact for pricing

      109 Acres in Franklin, OH

      109 acres of land available for sale in Franklin, OH.
      Shaker Rd, Franklin, OH 45005
      View Details
    • Contact for pricing
      2 SF

      Land For Sale OH-122

      Land for sale next to Renaissance Pointe development.
      Atrium Blvd, Franklin, OH 45005
      View Details
    • Contact for pricing

      Franklin, OH Land For Sale

      140.7 acres of land available in Franklin, OH.
      8638 Deardoff Rd, Franklin, OH 45005
      View Details

    Similar Nearby for Lease

    • $1,100 /Mo
      1,600 SF

      Retail Space in Historical Franklin

      Retail space available in the New Downtown Historical Franklin.
      513-515 S Main St, Franklin, OH 45005
      View Details
    • $2,300 /Mo
      1,188 SF

      Retail Space Under Construction

      Future retail space suitable for shop, restaurant, or coffee shop.
      449 S Main St, Franklin, OH 45005
      View Details
    • $8 SF/Yr
      44,700 SF

      Carlisle Center Retail Space

      Prime Carlisle retail, 2 spaces available
      500 Central Ave, Franklin, OH 45005
      View Details
    • Contact for pricing
      1 SF

      Kohl's Pad Site, Middletown, OH

      Prime Retail Pad, 1 Acre, Middletown
      6825 Roosevelt Ave, Middletown, OH 45005
      View Details
    • Contact for pricing
      12,970 SF

      Former CVS Building For Lease

      12,970 SF building suitable for office or retail use.
      3445 Union Rd, Franklin, OH 45005
      View Details
    • $1,900 /Mo
      2,244 SF

      Downtown Franklin Retail/Office Space

      Spacious retail or office space in historic downtown Franklin, Ohio.
      431-439 S Main St, Franklin, OH 45005
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1350 2nd St
    Franklin, OH 45005-1850
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.